Mahindra Lifespaces wins Redevelopment Mandate for Four Societies in Malad - West, Mumbai, with a Potential of ~INR 800 Crore

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, today announced that it has been selected as the preferred partner for the redevelopment of four residential societies in Malad (West), one of Mumbai's established suburban neighbourhoods. Spread across approximately 1.65 acres, the project offers a development potential of INR ~800 crore.

The project is located close to Mahindra Lifespaces' ongoing redevelopment project, Mahindra Codename64, strengthening presence in the micro-market. Located just 2.6 km from the Western Express Highway, the project offers excellent connectivity to key parts of Mumbai via multiple transport modes. It is conveniently situated less than 1 km from Malad West Metro Station and around 1.5 km from Malad Railway Station. The location's proximity to prominent business hubs such as Mindspace, Malad and Bandra Kurla Complex (BKC) further enhances its appeal.

Mr Vimalendra Singh, Chief Business Officer - Residential, Mahindra Lifespace Developers Ltd., said, "This project further strengthens our presence in Mumbai's redevelopment market, reflecting the trust our brand has earned over the years with customers and communities. Our reputation for delivering thoughtfully designed, high-quality homes has made us a preferred choice for societies looking to redevelop. This is also in line with our strategy of deepening presence in established micromarkets, enabling us to leverage economies of scale and enhance project efficiencies."

Situated in an established residential area, the new development will provide easy access to a wide range of urban conveniences, including reputed schools, leading healthcare facilities, retail destinations, and business centres. With the operational Malad Metro Station in close proximity, residents will benefit from enhanced mobility and connectivity across Mumbai.

Shares of Mahindra Lifespace Developers Limited was last trading in BSE at Rs. 369.70 as compared to the previous close of Rs. 356.75. The total number of shares traded during the day was 14090 in over 688 trades.

The stock hit an intraday high of Rs. 373.95 and intraday low of 355.60. The net turnover during the day was Rs. 5158513.00.

Source : Equity Bulls

Keywords

MahindraLifespaceDevelopers INE813A01018 Realty PreferredPartner Redevelopment ResidentialSocieties MaladWest Mumbai